Bearish
UBS recommends shorting AUD/NZD, targeting 1.18, after RBNZ's rate hike.
UBS has issued a bearish outlook on the AUD/NZD currency pair, recommending a short position with a target of 1.18, following the Reserve Bank of New Zealand's (RBNZ) recent rate hike. The RBNZ increased the official cash rate by 25 basis points to 2.50%, marking its first rate hike in three years. UBS anticipates further tightening, with the next rate hike expected in September.
Key points
- UBS recommends shorting AUD/NZD, targeting 1.18, after RBNZ's rate hike.
- RBNZ raises official cash rate by 25 basis points to 2.50%, first hike in three years.
- UBS expects further tightening, with next rate hike anticipated in September.
Sources
AI-generated from public news sources. Not financial advice.
